Monday, 15 July 2019

BUY-TO-LET DEAL OF THE WEEK: 3 bed house in Tangmere, £279,950, 4.7% yield

3 bed house, Neville Duke Way, Tangmere, Chichester
3 bed house in Tangmere
Listed for sale on 28/06/19 @ £279,950
Rent = £1,150pcm
Yield = 4.9%
Last sold for £272,000 in 2015 (+3% in 4 years)

This three-bedroom house in Tangmere is beautifully presented and available at a very decent price all things considered.

It is a semi-detached house that's only 10 years old. That in itself would mean it's modern but the current owners bought the property in 2015 and installed a new kitchen, fresh carpets and re-decorated throughout. It really is in fantastic condition!

And yet it's priced at just £279,950, which I think is cheap considering what other nearby houses have sold for and the fact the current owners will be losing money based on paying £272,000 four years ago (having spent money on the improvements). Prior to that, the house was sold for £233,000 in October 2009 (when it was newly built), which was close to the bottom of the credit crunch. That means it's only increased by 20% in a decade compared to the wider market in Tangmere, which has increased by 46% in that time.

This townhouse design is popular amongst families, with the extra floor giving a sense of space and privacy. It also means you get three double bedrooms rather than having a box room and as it's a modern build it has a downstairs cloakroom, family bathroom and en-suite shower room, plus the near-essential gas central heating and double glazing. It also has a garage and a small, but again well-presented, garden.

It is likely to rent for £1,150pcm given it's size, location and excellent condition, which would mean a very good 4.9% rental yield based on its asking price. This from a freehold property in great condition (did I mention it's really well-presented??) that is ready to rent makes it a really excellent buy-to-let proposition for a shrewd buyer.

The property is on the market with Bell & Blake and full details can be found on Rightmove via the following link:

If you are looking for an agent that is well establishedprofessional and communicative in Chichester, then contact us to find out how we can get the best out of your investment property.

E-mail me on or call 01243 624 599.

Don't forget to visit the links below to view my previous buy-to-let deals and Chichester Property News articles:

c/o CRJ Lettings, 30B Southgate, Chichester, West Sussex, PO19 1DP

Chichester rental valuation

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